TopTier Trader Review - Forex Brokers Reviews (2024)

TopTier Trader is offering you the opportunity to trade with $5,000 and $300,000 and taking home from 80-90% profit split.

With competitive payout ratios and one free evaluation reset after phase one, the firm positions itself as an attractive option. Customer service experiences and platform efficiency also play a vital role in the overall positive user experience with the firm.

TopTier Trader Overview (10% OFF 9 code: SAVE10)

TopTier Trader is established to discover and develop talented traders, this firm supports you to trade with its capital. With a detailed evaluation process, they are making sure that only skilled traders manage their funds.

Toptier Trader was founded on October 18, 2021. So they have a good track record of funding traders. The firm is based in Florida, 547 NW 28th St, Miami, FL 33127, United States. CEO is Dave Gutman.

Key Offerings:

• Initial Capital: You start with a simulated trading account funded between $5,000 and $300,000.
• Profit Split: Upon successful trading, you are entitled to keep 80% – 90% of the profits you make.

Features at a Glance:

The funding starts with a TopTier Trader evaluation. The evaluation is designed to assess your trading skills and knowledge. With a profit target set at 8%, and the daily loss limited to 5%, they have structured a testing ground that balances potential gains with exceptional risk management.

Your decision to partner with TopTier Trader should factor in these pros and cons, aligning them with your specific trading goals and experience level.

Getting Started with TopTier Trader

To start trading with TopTier Trader, you’ll begin by selecting one of their evaluation programs. These programs are designed to test your trading strategies within a controlled environment. There are two phases to complete before you can trade with a live funded account.

Your first step is to visit the TopTier Trader website, where you’ll find detailed information on the evaluation criteria. Choose the program you like. Funding options reportedly extend up to $300,000.

Step two: Fill in the required information and select your trading program. The challenge usually involves trading within specific parameters, including profit targets, maximum drawdown limits, and trading days.

Here’s what the process generally looks like:

1. Select a Program: Choose a challenge based on your skill level.
2. Sign Up: Provide necessary details and make the payment.
3. Start Trading: Begin trading in the simulated environment to meet the challenge criteria.

After you finish the evaluation process, TopTier Trader will give you access to a live funded trading account. Remember to review their terms and conditions carefully before you buy anything.

Funding Program Options

At TopTier Trader, you have access to their funding program options. These options are designed to provide you with trade capital to trade and support. .

• Evaluation Program: To qualify for funding, you must successfully pass a two-tier evaluation process. If you pass, you can receive funding up to $300,000. This program is structured to assess your trading skills and risk management abilities.
• Scaling Plan: TopTier Trader offers an opportunity to increase your capital after you demonstrate consistent profitability.

Funding Levels:

• Initial Funding: Starts at $50,000 with an associated fee. Options increase up to $600,000 for more experienced traders.
• Growth Potential: Show consistent success, and you might qualify for scaling up to $2 million in funding.

Benefits:

• Competitive Payout Ratios: Earn up to 80-90% of the profits you make.
• One Free Reset: If you’re unsuccessful in the first phase of an evaluation, you receive one free reset.

The initial fees for these programs are refundable upon your first payout.

Account Types and Trading Requirements

Key requirements include:

• Minimum Account Balance: Your account starts with a simulated balance ranging up to $300,000, depending on the account type chosen.
• Risk Management Guidelines:
  • Maximum Daily Loss: This varies by account type and is in place to protect the account from substantial losses.
  • Maximum Loss Limit: This is a set percentage of your account balance that you cannot drop below.
• Profit Targets:
  • Each account has a defined profit target that you must reach without violating the risk parameters.

Challenge Rules

Toptier Trader has a 2-step challenge. Check out the rules below:

Phase 1

During this phase, you need to achieve a profit target within 40 calendar days. Here are all the details:

• Minimum days to trade: 4 days.
• Challenge duration: 40 calendar days.
• Maximum daily loss: 5%
• Maximum loss: 10%
• Profit target: 10%.

Phase 2

This phase has an extended period. You now have 60 calendar days to achieve the profit target while respecting the challenge rules. Here are all the details:

• Minimum days to trade: 4 days.
• Challenge duration: 60 calendar days.
• Maximum daily loss: 5%
• Maximum loss: 10%
• Profit target: 5%.

TopTier Challenge Plus Account

The Plus challenge is very similar to the one we already described. You must prove your experience in a quick 2-phase evaluation process. Let’s check this out.

Phase 1

During this phase, you need to achieve a profit target within 40 days. Here are all the details:

• Minimum days to trade: 4 days.
• Challenge duration: 40 calendar days.
• Maximum daily loss: 5%
• Maximum loss: 8%
• Profit target: 8%.

Phase 2

After you complete the phase 1 challenge, you’re ready to start phase 2.

You have 70 days to get the profit target while not breaking any rules. All the rules are the same as in phase 1 except the profit target. Here are all the details:

• Minimum days to trade: 4 days.
• Challenge duration: 70 calendar days.
• Maximum daily loss: 5%
• Maximum loss: 8%
• Profit target: 5%.

Commission and Fees

There are different fees that come up during the trade with Toptier Trader funding.

Initial Fees:

• Challenge Fee: To qualify for funding, you must pass a two-phase challenge. The associated fee varies depending on the account size you choose.

Profit Split and Commissions:

• Once funded, you earn a significant percentage of the net profits, with a trader’s profit split ranging between 80%-90%.
• Fee Refund: On your first payout as a TopTier Trader, initial fees are refundable, aligning the firm’s interests with your success.

Subscription Fees:

• There are no monthly subscription fees once you get funded. The cost to participate in the challenge model is recurring if you do not pass on your first attempt.

Additional Costs:

• Software: You may incur fees related to trading platforms or tools, which are separate from TopTier Trader’s service fees.

Also remember to read the terms and conditions.

Tradable Assets

At TopTier Trader, you can trade with Forex pairs and various CFDs, such as indices, metals, commodities, and cryptocurrencies.

Forex Market:

• Majors, minors, and exotic pairs

CFDs:

• Indices: Broad market exposure
• Metals: Gold, silver, and other precious metals
• Commodities: Oil, natural gas, and more
• Cryptocurrencies: Bitcoin, Ethereum, and other popular digital currencies

Trading Features we Liked

TopTier Trader platform provides access to various financial instruments, including Forex pairs, indices, metals, commodities, and cryptocurrencies. The software and infrastructure provide a stable and flexible trading platform.Check out some of the key trading tool features you might like:

Key Features:

• Demo Account
• TradeLocker Platform: Mentioned in customer reviews as a user-friendly platform, TradeLocker is one of the tools you can leverage. It is praised for its 24/7 support and intuitive interface.
• Funding Capability: You have the opportunity to trade with a substantial fund after you pass the challenge.
• Profit Split: A competitive profit split ranging from 80% to 90% aligns your success with the firm’s interests.

Restrictions

When you trade with TopTier Trader, you’ll have access to a variety of asset classes. However, there are key limitations you should be aware of:

• Asset Class Limitations: While you have the flexibility to trade these assets, your ability to trade certain Cryptocurrencies might be subject to specific restrictions. It’s crucial to check the latest terms of service for the most current limitations.

Make sure you are aware of all the conditions that apply to TopTier Trader’s offer before you begin trading.

TopTier Trader Trading Platforms

TopTier Trader supports the use of the industry-standard MetaTrader 4 (MT4) platform and Tradelocker platform.

When trading with TopTier Trader using MT4 and Tradelocker, you have direct access to a robust set of tools.

Funding Process and Scaling Plan

Top Tier Trader offers a structured path to get the trading funds.

Evaluation Stages:

1. Phase 1: Demonstrate your trading skills without breaking the guidelines. A free evaluation reset is sometimes available after this phase.
2. Phase 2: Continue with consistent trading success.

Funding Accessibility:

• Upon passing these phases, you gain access to the initial funding.
• Initial fees are refundable during your first payout.

Scaling Options:

• Consistent Profitability: Maintain profitability, and the firm may increase your trading account size.
• Growth Potential: Top-tier performers can qualify for scaling plans, potentially elevating trading capital to $2 million.

Profit Split

You start with an 80% profit share. After you show your profit making skills, you can easily see your share rise to 90%, which is significantly higher than many other prop trading firms offer. This provides a compelling incentive for traders looking to maximize their earnings.

The structure is as follows:

• Initial Profit Split: 80%
• After Scaling: Up to 90%

• Evaluation required for initial and scaling phases.
• No explicit profit target, but respecting the drawdown limitations is mandatory.

The more skilled and disciplined you are, the greater share of the profits you will receive.

Education and Resources

As part of their toolkit, you will find trading tutorials and trading strategies.

• Video Tutorials: Engaging video helps you understand fundamental trading and technical analysis.
• Market Analysis: Regular market updates and insightful analysis are provided, helping you stay on top of market trends.
• Community Support: They have a very developed community support.

Customer Support

Customer service representatives at Toptier Trader get recognition for their friendliness. They get complimented on answering even the most basic questions.

Support Channels:

• Chat Support
• Phone: 888-396-8550
• Email: [emailprotected].

Experience with the customer support team at TopTier Trader that users keep reporting is:

• Quick and friendly correspondence.
• Professional assistance in platform transitions, like from MetaTrader to TradeLocker.
• Availability of support 24/7.

Community Reviews

When you explore what users say about TopTier Trader, you’ll notice a prevalent sentiment of satisfaction on review platforms like TrustPilot. They are often praised for their customer service, with one user stating, “Talha in customer service was super friendly and helpful.”

TrustPilot Scores:
The scores are demonstrably high, reflecting a positive reception from the community. Many reviews emphasize the transparency and accessibility of their services:

• Ease of Use: “The support is 24/7… really easy to ask questions.”
• Trading Platform: Users appreciate “we can trade with TradeLocker platform!”

On platforms like Reddit, you’ll find traders discussing the firm’s performance and policies. A common thread is the lack of hidden rules, which contributes to a sense of reliability.

Reddit User Comments:

• “Found them to be straightforward with no hidden rules.”
• “Their platform is user-friendly, which is a plus.”

Frequently Asked Questions